VIDA Fitness Leases 27000 Square Feet From Penzance At 1771 N Pierce St Arlington
1771 N Pierce St, Arlington, VA, 22209
Building Size
27,000 SF
Asset Type
Mixed-use
Closing
Nov 19, 2023
AI
The property asset involved in the transaction is a lease located at 1771 N Pierce St, Arlington, VA, 22209. This property is situated in the Arlington market and encompasses a total area of 27,000 square feet.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not disclosed
- Address: 1771 N Pierce St, Arlington, VA, 22209
- Market: Arlington
- Square Feet: 27,000
- Tenant: VIDA Fitness
- Landlord: Penzance
- Tenant's Representative: John Asadoorian, Asadoorian Retail Solutions
- Landlord's Representative: Alex Walker
The key individuals in this transaction include John Asadoorian, who represents the tenant, VIDA Fitness, and Alex Walker, representing the landlord, Penzance. Their roles were pivotal in facilitating this lease agreement.
Arlington Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93